SINGAPORE (Sept 24): Tuan Sing Holdings has acquired an initial 7.8% stake in China’s Sanya Summer Real Estate (SSRE) – whose incumbent shareholder is Hainan Summer Property Development, a developer and then operator of two retail malls in Hainan – for RMB75 million ($15 million).

SSRE is a Hainan-based property developer with plans to develop a 57,839 sq m block of land at Yuxiu Road, which is adjacent to the Sanya High-Speed Railway Station in Hainan, by end-2021.

The land plot involves a landmark project comprising commercial, residential, hotel and retail components. Development of the project is estimated to cost RMB1.6 billion and have a gross development value of RMB5 billion.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook